That Table 8.1 shows a short-run situation is evident from
A) the linear marginal revenue function.
B) the constant price.
C) the increasing marginal cost.
D) the presence of positive costs at Q = 0.
E) the absence of marginal values at Q = 0.
D
Economics
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The demand and supply schedules for pizza are in the table above. A price ceiling of $4 per slice results in
A) a surplus of 20 slices of pizza. B) a shortage of 20 slices of pizza. C) a shortage of 40 slices of pizza. D) a shortage of 60 slices of pizza. E) neither a shortage nor a surplus.
Economics
If the nominal GDP is $500 billion and the money supply is $100 billion, the velocity of money is:
a. 500. b. 5.00 c. 2.50. d. 0.40.
Economics